Key market and commercial developments

Welcome to our Q3 edition for 2026.

New Zealand's monetary policy entered a genuine tightening cycle this quarter, with the Reserve Bank lifting the Official Cash Rate to 2.75% as inflationary pressures build against a backdrop of Middle East conflict and a tougher US tariff environment for exporters.

Alongside this, the country's regulatory and infrastructure settings continue to mature, with the Fast-track Approvals Act delivering approvals at real scale, New Zealand's first offshore wind legislation now in force, and private capital once again playing a central role in major infrastructure delivery, headlined by the first PPP to reach financial close since the model's reintroduction.

This edition also covers early signs of life returning to capital markets, progress toward entry into force of the New Zealand-India Free Trade Agreement, and a busy deals roundup with Simpson Grierson advising on several major transactions in recent months.

As always, please get in touch if you'd like to discuss any of these developments.